Sei Investments Co. Trims Holdings in Almonty Industries Inc. $ALM

Key Points

• Sei Investments Co. cut its Almonty Industries stake by 56% in the first quarter, selling 274,430 shares and retaining 216,039 shares worth approximately $3.13 million.
• Almonty reported quarterly EPS of $0.01, in line with estimates, while revenue of $18.52 million exceeded the $15.44 million consensus forecast. The company remains unprofitable, with a negative net margin of 262.29%.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $21.88, compared with the stock’s Friday opening price of $14.18.

Sei Investments Co. lowered its holdings in shares of Almonty Industries Inc. (NASDAQ:ALM - Free Report) by 56.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 216,039 shares of the company's stock after selling 274,430 shares during the period. Sei Investments Co. owned 0.08% of Almonty Industries worth $3,128,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Leonteq Securities AG purchased a new stake in shares of Almonty Industries in the first quarter valued at about $29,000. Global Retirement Partners LLC acquired a new stake in shares of Almonty Industries during the fourth quarter worth about $35,000. Rockefeller Capital Management L.P. grew its holdings in shares of Almonty Industries by 30.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company's stock worth $38,000 after buying an additional 1,000 shares during the last quarter. State of Wyoming purchased a new position in shares of Almonty Industries during the fourth quarter worth about $41,000. Finally, Banque Cantonale Vaudoise acquired a new position in Almonty Industries in the 3rd quarter valued at about $54,000.

Almonty Industries Price Performance

Almonty Industries stock opened at $14.18 on Friday. Almonty Industries Inc. has a one year low of $3.97 and a one year high of $24.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.37 and a current ratio of 2.45. The business has a fifty day moving average of $15.68 and a two-hundred day moving average of $16.67. The company has a market cap of $4.09 billion and a P/E ratio of -28.36.

Almonty Industries (NASDAQ:ALM - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. The business had revenue of $18.52 million for the quarter, compared to analysts' expectations of $15.44 million. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. As a group, analysts predict that Almonty Industries Inc. will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the company. DA Davidson upped their price objective on Almonty Industries from $25.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Almonty Industries in a research note on Thursday, June 18th. Oppenheimer boosted their target price on Almonty Industries from $22.00 to $25.00 and gave the company an "outperform" rating in a report on Wednesday, June 3rd. Finally, Texas Capital upgraded Almonty Industries to a "strong-buy" rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Almonty Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.88.

Almonty Industries Company Profile

Almonty Industries is a Canada-based mining company focused on the production, development and acquisition of tungsten assets. The company’s principal business activity is the mining and processing of tungsten-bearing ore to produce tungsten concentrates for industrial customers. Almonty pursues both operating mines and advanced-stage development projects with the objective of supplying a critical raw material used in hardmetals, tooling, drilling and other industrial applications.

Almonty’s asset footprint has historically included operating and development projects in Europe and Asia.

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